License is an official permit for running gambling activities, issued by empowered body – jurisdiction, which determines main rules and conditions of gambling house operation.
License: to be or not to be?
Should gambling activities be backed up with a license? If you want your gambling house to work steadily, to be protected against many risks, not to be closed down as an illegal one, to have a good reputation and a high level of customer loyalty, the answer is definitely YES. Online casino license guarantees that operator follows the policy of fair play and operates legally.
Gambling licenses are provided in more than 80 countries of the world. Which one to choose? What characteristics and peculiarities should be taken into account when choosing a jurisdiction?
What factors should be considered before selecting country and license?
When selecting a jurisdiction you should primarily pay attention to such main factors:
- Which country will provide the majority of customers for your casino.
- Does the jurisdiction offer a beneficial taxation system.
- How much money are you ready to spend on a license.
Thus, operator should choose a country and jurisdiction that is more popular and has more prestige among future casino players. It depends on the territory, where customer angagement will take place most actively.
Further it is necessary to learn the taxation system of each jurisdiction, define how beneficial it is and whether it corresponds to your financial state.
Besides that the cost of license is also very important, as far as some prices are unjustifiably high. Perhaps some operators don’t need to overpay for reputation of jurisdiction in case the only thing they need is the permit for conducting activities.
Sometimes, in order to bypass such difficult procedure as license acquisition, operators choose the easiest way – decide to buy an online casino with license, offered by provider of turnkey solutions. But such an option restricts operator to some extent.
But if you decide to choose casino license on your own, you should examine peculiarities of the most popular gambling license jurisdictions. Comparative table below features main advantages, numbers and disadvantages of gambling commissions that issue gambling licenses.
Impeccable reputation and long-term experience; European warranties.
From €50 000.
Strict requirements imposed on gambling houses.
Necessity for representational office in Malta.
It is suitable for companies, operating on the territory of Europe and striving to gain the most respected status.
Absence of taxation, no need to obtain a license;
There are no prohibitions on the territory of Costa Rica
From $15 000 ($1500 for every 3 month)
Instead of gambling license, data handling license is required
Ideal offshore territory for online casino
Absence of taxation on the territory of Panama if bets are accepted from foreigners.
Simple procedure of account opening and business registration.
$40000 for 7 years
Annual license fee $20000
The largest banking and offshore jurisdiction in the world.
Several partner companies can use one license;
Simple procedure of license acquisition, there is no need to have a representational office.
A fee of 10000 Dutch guilder a month within the first two years
One of the cheapest licenses with good reputation
European jurisdiction with excellent reputation.
No initial fee.
License renewal costs $2000 a year.
Very strict requirements to companies.
Acceptable price and high level of trust.
High reliability and reputation
Initial fee comprises 5000 CAD, additional fee for testing –15 000 CAD, annual fee – 10 000 CAD.
It is considered to be one of the most reliable jurisdictions.
Antigua and Barbuda
There is no taxation of international activities.
Annual fee comprises $75 000 (casino), $50 000 (totalizer).
Very strict requirements to licensors.
Relatively short terms of license acquisition.
Isle of Man
One of the most reliable and popular jurisdictions.
Filing of application costs £1000, annual fee comprises £20000
Taxes account for 1.5% from gambling gross revenue. Strict requirements to companies.
Wide possibilities of using European legislation.
$18 000 for license acquisition
$10 000 for license renewal
Strict control over participants of license acquisition process, financial reports for 3 years are required.
Issuance of licenses for all kinds of gambling games with single tax – franchise.
Registration of online casino and license acquisition is a responsible step, which can influence the further activities of your gambling house.
In order to get a profound understanding of the online casino license acquisition process, you may need to consult our specialists. You will get all details and peculiarities of each way of license acquisition, and you will be able to select the most suitable business jurisdiction. We are ready to provide all necessary support in the process of realizing your gambling project.